GAMMA Investing LLC Has $1.10 Million Stake in Phillips 66 (NYSE:PSX)

GAMMA Investing LLC raised its stake in Phillips 66 (NYSE:PSX) by 21.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,343 shares of the oil and gas company’s stock after buying an additional 1,479 shares during the quarter. GAMMA Investing LLC’s holdings in Phillips 66 were worth $1,097,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Phillips 66 by 4.0% in the first quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock valued at $6,741,218,000 after buying an additional 1,578,669 shares during the period. Wellington Management Group LLP lifted its stake in Phillips 66 by 20.3% in the fourth quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock valued at $1,451,643,000 after buying an additional 1,842,226 shares during the period. Bank of New York Mellon Corp lifted its stake in Phillips 66 by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock valued at $1,189,035,000 after buying an additional 402,925 shares during the period. Boston Partners lifted its stake in Phillips 66 by 41.4% in the first quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock valued at $889,214,000 after buying an additional 1,595,722 shares during the period. Finally, Legal & General Group Plc lifted its stake in Phillips 66 by 0.5% in the second quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company’s stock valued at $522,240,000 after buying an additional 18,238 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Activity

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the sale, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at $11,390,062.37. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PSX. Scotiabank dropped their price target on Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Piper Sandler dropped their price target on Phillips 66 from $151.00 to $136.00 and set an “overweight” rating on the stock in a research report on Friday, September 20th. Wells Fargo & Company raised their price target on Phillips 66 from $176.00 to $182.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Barclays raised their price target on Phillips 66 from $136.00 to $138.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Finally, Mizuho dropped their price target on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and a consensus price target of $152.71.

Phillips 66 Stock Down 0.1 %

PSX stock opened at $138.54 on Tuesday. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. The business has a 50 day moving average price of $133.83 and a two-hundred day moving average price of $142.17. The company has a market cap of $58.73 billion, a price-to-earnings ratio of 10.66, a P/E/G ratio of 5.46 and a beta of 1.33. Phillips 66 has a twelve month low of $107.85 and a twelve month high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. The firm had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The business’s revenue was up 8.9% compared to the same quarter last year. During the same period last year, the company earned $3.87 earnings per share. Analysts anticipate that Phillips 66 will post 8.21 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were given a $1.15 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.32%. Phillips 66’s payout ratio is 35.38%.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.